The Netherlands’ Oikocredit recently paid USD 3.3 million to purchase an equity stake of unspecified size in Laudex, a lender to low- and moderate-income Mexican students pursuing undergraduate and graduate degrees around the world. The institution has an “online approval platform” and a “risk-based pricing model” with a maximum annual interest rate of 29.5 percent. Since its founding in 2009, Laudex has served 12,000 students.
Founded in 1975, Oikocredit is a cooperative that invests in microfinance, fair trade, agriculture and renewable energy. As of October 2018, Oikocredit has EUR 971 million (USD 1.1 billion) in capital invested in 693 firms in 70 countries, including 471 involved in financial inclusion. As of December 2018, these financial services providers served 36 million people, 84 percent of whom are women and half of whom live in rural areas.
Sources and Additional Resources
Oikocredit press release
https://www.oikocredit.coop/k/n171/news/view/303239/235625/oikocredit-invests-in-laudex-to-encourage-social-inclusion-in-mexico-s-education-sector.html
Laudex homepage
https://www.laudex.mx
Oikocredit homepage
https://www.waterequity.org
Did you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at http://www.microcapital.org/products-page/.
Similar Posts:
- MICROCAPITAL BRIEF: Standard Life Organization Borrows $3m from Oikocredit to Invest in MSMEs, Education in Nigeria
- MICROCAPITAL BRIEF: Oikocredit Loans Yellow of Uganda $5m for Off-grid Solar Energy in Africa
- MICROCAPITAL BRIEF: Global Partnerships, Goodwell, Oikocredit Invest $8.5m in Equity in Good Nature Agro to Boost Profits of Small Farms in Southern Africa
- MICROCAPITAL BRIEF: RDG Collective Borrows $2m from Oikocredit for Pay-as-you-go Solar Appliances for 12k Low-income Households in Zambia
- MICROCAPITAL BRIEF: IDB Invest, Oikocredit Subscribing to $20m Bond from CJA to Finance MSMEs in Ecuador, Targeting Underrepresented Groups
